WEST PALM BEACH, Fla. — The financial struggle that has come with Florida’s insurance market problems was brought into focus during WPTV’s live Coverage Collapse town hall in Port St. Lucie on Tuesday night.
It was a lively hour with plenty of good questions about rates, cancellations and solutions.
Near the end of the program, Doug Quinn of the American Policyholders Association — a consumer advocate group — drew applause from the town hall audience when he suggested there is not enough tight regulation of insurance companies.
WATCH BELOW: Doug Quinn has tough words for Florida regulators during WPTV town hall; State Rep. Toby Overdorf pushes back
Consumer advocate urges Florida to hold insurance companies accountable for high home insurance rates
On Wednesday, he told WPTV that residents have a right to be upset with high premiums.
“You had 12 years before Hurricane Irma hit in 2017 with no major hurricanes hitting Florida. … Between 2018 Hurricane Michael and 2022 Hurricane Ian, you had four years when insurance companies collected billions of dollars,” Quinn told WPTV. “Where’s all that money? And what we encourage the state of Florida to do is simply follow the money.”
WATCH BELOW: ‘Where’s all that money?’ Consumer advocate has this advice for Florida
‘Where’s all that money?’ Consumer advocate has this advice for Florida concerning home insurance
Florida lawmakers, including state Rep. Toby Overdorf, R-Palm City, who was at Tuesday night’s town hall panel, insisted that insurers are highly regulated in Florida.
That still doesn’t sit well with the thousands of Florida residents who have been hit hard in the last few years by skyrocketing rates that in some cases have jumped thousands of dollars in a short period.
Click here to watch the full one-hour-long town hall.
Matt Sczesny is determined every day to help you find solutions in Florida’s coverage collapse. If you have a question or comment on homeowners insurance, you can reach out to him any time.
Read WPTV’s latest “Coverage Collapse” stories below:
Alice J. Roden started working for Trending Insurance News at the end of 2021. Alice grew up in Salt Lake City, UT. A writer with a vast insurance industry background Alice has help with several of the biggest insurance companies. Before joining Trending Insurance News, Alice briefly worked as a freelance journalist for several radio stations. She covers home, renters and other property insurance stories.